One in two businesses doesn’t offer training
There’s no doubt that the competition for quality job candidates is fiercer than ever. As opportunities for employees to progress or take a new career path have become easier to secure, many businesses are finding it harder to retain and attract quality members of staff.
This is largely down to advances in technology and a thriving recruitment industry, which is currently valued at £32.2bn. LinkedIn and online job sites mean that employees have endless job opportunities at their fingertips.
Businesses have a lot to contend with, but are they doing enough to incentivise team members to stay?
According to recent research by Robert Half UK, one in seven employees are on the look out for a new job. This figure is backed by further research which found 61% of businesses reported an increase in voluntary turnover of staff during the past three years.
Without the opportunity to upskill, hit career goals and move up the ladder, employees can often feel undervalued.
But what really surprises me is that the report also found that many businesses still fail to offer basic incentives to boost morale and retention. More than half of businesses surveyed do not offer training or development to their team.
This is a worrying statistic and one that might be part of the reason why a high number of employees are looking for new positions.
The value of training
The importance and value of training to a business can often be overlooked. Without the opportunity to upskill, hit career goals and move up the ladder, employees can often feel undervalued.
You regularly hear that the customer always comes first, yet business success often comes down to the quality of its team: when it boils down to it, your workforce is your most valuable resource.
The key benefits
There are many key benefits of ensuring employees have access to training. Not only does it increase the capabilities of the team, but the opportunities it brings to each individual can boost morale, in turn increasing productivity and helping to fuel growth.
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With an ageing population in the UK, many sectors will see a large number of workers retire in the next 10-20 years. This means that retaining, attracting and developing the next generation is vitally important.
This also leads onto succession planning. Many smaller businesses need to ensure staff with the right skills are in place to take over day to day operations. A well-trained and developed team help to ensure that this won’t be problem. Management and leadership courses are perfect for providing a valued member of the team with the extra skillsets needed to make the step into a more senior role.
Another great benefit of training and staff development is staying ahead of the competition. With a highly-skilled and motivated team, it’s much easier for a business to become the market leader. Knowing the latest practices and demonstrating industry leading expertise throughout the team structure attracts customers and sets businesses apart.
Boost staff retention with training
Staff turnover can have a real impact on a business and its relationship with customers or clients. Continued staff turnover doesn’t look healthy from the outside, especially for client-facing businesses.
With only around half of businesses offering training and development, it is extremely important that the businesses that aren’t look to implement a talent strategy to provide opportunities to staff that will help boost overall retention and have a positive impact on the business.
Learning and upskilling is the way through this, says Mark Creighton.
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